Why NetEase Stock Fell 11% in August

Why NetEase Stock Fell 11% in August

Shares of NetEase (NASDAQ: NTES) declined 11.4% last month, according to data provided by S&P Global Market Intelligence, after the Chinese internet technology company's second-quarter earnings fell a bit short of investor expectations.

NetEase's revenue soared 49.4% year over year, to 13.4 billion Chinese renminbi (RMB), or roughly $2 billion. These gains were fueled by a 46.5% jump in online game services revenue and a 68.9% surge in e-commerce sales.

NetEase dialed up its revenue growth in the second quarter. Image source: Getty Images.

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Source: Fool.com